Shiba Inu (SHIB) stands out as a decentralized cryptocurrency built on the Ethereum blockchain. It was created as an experiment in decentralized community development that aims to offer a secure and decentralized method for transferring value online. It has gained traction for its unique approach within the crypto space.
Shiba Inu (SHIB) investors and traders are actively aiming to reduce the price by eliminating one zero and propelling the token closer to the ‘one-cent dream.’ Despite its widespread popularity, SHIB faces challenges in surpassing the $0.000001 threshold.
Also Read: Shiba Inu (SHIB) Price Prediction | Is SHIB a Good Investment?
As we found on IntoTheBlock, the SHIB Coin faces significant resistance within the price range of $0.000010 to $0.000027. The data from IntoTheBlock indicates that over 404,100 addresses purchased 615.41 trillion SHIB at approximately $0.000016. In order to reach $0.005, the SHIB token must surpass the existing selling pressure from these investors.
Is Shiba Inu (SHIB) Set to Hit $0.005 by 2024?
The Shiba Inu Coin has gained huge popularity in the crypto market. The SHIB Army, a dedicated supporter of SHIB, is also a known force in the crypto community.
Also Read: Shiba Inu (SHIB): The Cryptocurrency That Could Make You a Millionaire!
As per our technical analysis, the Shiba Inu Coin could reach a $0.005 price level between 2030 to 2035, approximately in six to thirteen years. However, if there is any positive news surrounding the Shiba Inu ecosystem, the prices of the SHIB Coin may skyrocket in the future.
FinanceShots also supports the possibility of SHIB reaching $0.005 in the future. The platform forecasted that the SHIB Coin would reach the $0.005 level by 2030, indicating six years from the present.
Also Read: Shiba Inu (SHIB): Introducing SHEboshi – Learn All About It Here!
How High Will SHIB Go in 2024?
As per CoinMarketCap data, Shiba Inu (SHIB) is down by 0.25% in the 24-hour chart, 2.15% down in the weekly charts, and over 3% up in the last 30 days. At the time of writing, the SHIB Coin is trading at around $0.000009561 with a market cap of $56.34 billion.
According to our expert’s technical analysis, the Shiba Inu Coin has the potential to reach a maximum price level of $0.0000329 with an average trading price of $0.0000298 by the end of 2024. If the market faces any major bearish trend, the value of the SHIB Coin can fall to $0.0000279 by 2024.
Also Read: Shiba Inu vs. Dogecoin – ChatGPT Predicts the Winner of 2024!
Disclaimer
The information in this article should not be considered financial advice, and the OvenAdd platform is intended only to provide educational and general information. Please conduct your own research and consult a financial advisor before making any investment choices.
